Baidu to invest $200m in artificial intelligence projects

Latest News Chinese internet search giant Baidu has launched a US$200 million venture capital unit to invest in artificial intelligence (AI) projects. The company is choosing to focus on AI in light of a decline in its search and advertising business. The first-phase investment is planned at US$200 million and the fund will invest in projects that are at their early stage, focusing primarily on augment reality and virtual reality projects, the company told South China Morning Post. Baidu also recently announced a partnership with Nvidia to build a computer platform for self-driving cars, which will include cloud-based high-definition maps. Baidu has stated that it aims to mass produce autonomous vehicles in the next five years and has invested in a number of related technologies, including a $75 million injection of capital…